How Automation Can Help Insurers During COVID-19
Insurers around the globe are scrambling to respond to COVID-19. Their customers want to know about policies of all kinds: in addition to health insurance, consumers are calling in with questions about life insurance, property insurance, and various kinds of business coverage.
In just a few weeks’ time, insurance companies have been inundated with claims and inquiries. Property and casualty insurers could see as many as 30 million claims per month in the United States alone. A long downturn will also be tough on business and finance-related companies like trade credit insurers. The downturn will also affect auto insurers, as cars sit idle and driving declines.
To help insurers handle the new volume, Automation Hero uses a combination of cutting-edge technologies, including: AI-powered document classification, data extraction, and advanced OCR (optical character recognition) for handwriting to reduce manual tasks and process claims faster.
In the end, this helps:
- Speed up all aspects of claims management
- Extract and compile data from scanned documents for database input or e-signature
- Reduce input errors
- Streamline auditing and reporting
- Incorporate attended automations so staff can review problem cases through a personal automation assistant, Robin